There’s a reason forex brokers have turned their heads towards the African continent. The African forex market is projected to experience significant growth with retail traders increasing 30% year-on-year from 2023 onwards. Largely driven by mobile trading platforms and growing interest from countries like Nigeria and Kenya. Contentworks is a forex marketing agency that supports brokers in Africa with timely and engaging content, social media and performance marketing campaigns. For now, let’s look at the state of retail forex trading in Africa for 2025.
Why Forex Brokers Want Africa
The International Monetary Fund (IMF) expects growth in sub-Saharan Africa at 3.6% in 2024, and a slight increase to 4.2% in 2025. South Africa is still the largest forex trading player on the continent with a daily turnover of over $20 billion. Kenya and Nigeria (200,000 active traders) have seen a burst of retail forex trading thanks to increased internet penetration and financial literacy initiatives.
African currencies are experiencing increasing volatility due to global monetary tightening. While this increases risk, it also provides more trading opportunities. Concurrently, and perhaps due to volatility in the fiat markets, interest in cryptocurrencies is also growing.
According to Statista, revenue from the crypto market in Africa is expected to reach US$3.1 billion in 2024. The number of users in the cryptocurrencies market in the region is expected to reach 53.89 million users by 2025. Nigeria and South Africa are leading the way in terms of user engagement and regulatory frameworks.
Forex Trading Regulatory Updates
Increasing regulatory oversight in 2025 means brokers need to stay abreast of the latest changes in Africa. Here’s what’s going on with some of the key regulators.
- South Africa: The Financial Sector Conduct Authority (FSCA) has intensified oversight. Brokers need to improve transparency and comply with stricter customer protection standards. This means more stringent AML and clearer disclosures or risks and terms.
- Kenya: The Capital Markets Authority (CMA) will continue to bring in measures to ban unregulated brokers. There is greater focus on educating the public and encouraging forex traders towards licensed forex firms.
- Nigeria: The Securities and Exchange Commission (SEC) introduced new guidelines for forex brokers. They are also promoting greater operational transparency and safeguards for traders.
As a forex marketing agency, Contentworks helps brokers stay in tune with the latest regulatory changes with monthly updates.
Key Economic Indicators for Forex Brokers
The US Fed and EU’s ECB influence both the global and African forex trading markets as the USD and EUR are impacted. As a major commodity consumer, China’s economic data should also be closely monitored as it directly affects the region. To support their traders, forex brokers need to provide timely market intel around these key events.
European Central Bank: Monetary policy meetings by the ECB influence EUR/ZAR trading and cross-pair prices.
Federal Reserve: The Fed’s monetary policies greatly impact US dollar-based pairs, making it crucial for African traders to keep a close eye on developments.
China Economic Data: As many African currency prices are linked to commodity fluctuations, Chinese GDP and industrial performance are of particular interest to forex traders.
African Influencers, Finfluencers and Financial Leaders
With 60% of the population in Africa under 25 years of age, Gen Z and Gen Alpha are taking up trading in droves. In a world of carefully curated digital content, financial influencer, or fin-fluencers are gaining popularity. 39% of Gen Z are following them for financial advice on social media platforms like TikTok – also known as “FinTok” or “StockTok”.
As a forex marketing agency we like to keep our eyes on the Fintokers. Here are a few popular African finfluencers:
#1 Ref Wayne (South Africa)
- Platforms: Instagram and YouTube
- Known for founding the African Forex Institute and Pipcoin, Ref Wayne is one of the most influential figures in South African forex trading. He shares trading insights and motivational content
#2 Preshbae Forex (Nigeria)
- Platforms: Instagram and YouTube
- Preshbae holds the title of richest female forex trader in West Africa. She runs her own forex training academy.
#3 Nicolette Mashile (South Africa)
- Platforms: TikTok, YouTube, Twitter/X
- Also known as the Financial Bunny, Nicolette is a successful entrepreneur, media mogul and financial coach.
These finfluencers provide insights into trading, market analysis, and financial independence while leveraging platforms to educate and engage with diverse audiences across Africa. Contentworks does not endorse any particular influencer and you should always be careful about taking financial advice online.
Forex Marketing Agency Support for Africa
If you’re looking to enter, or grow your footprint in the African forex trading arena, then reach out to the team at Contentworks Agency and ask about:
- Forex marketing and communications strategies
- Content and copywriting for – website, campaigns, blog, thought-leadership, PR
- Daily technical analysis and market commentary
- Social Media – from content only, to full channel management
- SEO audits, keyword (KW) research, competitor KW research and strategies
- Performance marketing for your digital advertising.
Check out what we are doing for clients on our online portfolio. And if you see something you’d like to discuss further, book a zoom call.